Category

HVAC Equipment Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Equipment Type (Heating Equipment, Ventilation Equipment, Air Conditioning Equipment), By Component Type (Coils, Transducers, Actuators, Radiators, Condenser, Compressor, Others), By End Users (Residential, Industrial, Commercial, Governmental Institutions, Education, Healthcare), And By Geography - Forecasts From 2020 To 2025

Published: May 2021 | Report Code:  KSI061610063 | Pages:  120

The HVAC Equipment Market is projected to grow at a CAGR of 5.66% to reach US$162.123 billion in 2025 from US$116.515 billion in 2019. The heating, ventilation and air conditioning (HVAC) equipment is a facility or a system installed in buildings, both commercial and residential, to provide environmental comfort to the people inside that space by changing the temperature or quality of the air. It can also control humidity by monitoring and controlling the movement and dispersion of air in the enclosure. It consumes a lot of energy mostly in the form of electricity depending upon certain factors, namely, the efficiency of the components used, local climate, usage duration, and frequency, among others. The commercial HVAC Equipment segment shares the bigger portion of the market owing to the larger size and a large number of systems installed.

Urbanization in conjunction with rising disposable income is leading to the growth of residential and commercial infrastructure. This is a major reason why HVAC Equipment Market is expected to boost during the forecast period. Also, the elevating demand for consumer goods is fuelling the growth of the industries, commercial offices, and governmental units which in turn install a slew of Air Conditioning facilities. But there are concerns about the adverse environmental impact, such as greenhouse gas emission and high-cost energy consumption, this equipment brings with it. The sales in this market also face a challenge in terms of the high cost of providing specialized servicing facilities at regular intervals. Nevertheless, with technological innovations and investments in research and development projects, the players in this market are developing more energy-efficient and sustainable solution products in the market. Additionally, the companies are expected to increase their sales on account of developing cutting-edge technology and more user-friendly HVAC equipment for the consumers. This would also invoke environment-friendly people to resort to HVAC Equipment.

HVAC Equipment Market is expected to witness a significant demand due to erratic and harsh climatic conditions occurring in varied regions across the globe.

Due to the effects of global warming, the demand for more HVAC Equipment is on the rise as it makes the living conditions comfortable and livable for the people. But the result of using them is counter-productive for the natural environment. For instance, Hydrofluorocarbon, which is a major greenhouse gas, is the dominant refrigerant used in Air Conditioners which when released into the atmosphere during the manufacturing, installation, and working of such equipment warms the planet even more.

Geographically, Asia-Pacific Region is expected to see a high CAGR in HVAC Equipment sales due to rapid urbanization taking place in that region coupled with rising incomes or living standards of the people.

Increased awareness among users in countries such as India, China, for purchasing energy-efficient HVAC equipment, which leaves fewer carbon footprints is driving the technological innovations and sales of this market. The American region is a matured economy and is estimated to hold a major chunk of the HVAC Equipment Market. The seasonal and climatic variations happening all around the globe are expected to augment the sales of such equipment in the forecast period.

HVAC Equipment Market Scope:

Report Metric Details
 Market size value in 2019  US$116.515 billion
 Market size value in 2025  US$162.123 billion
 Growth Rate  CAGR of 5.66% from 2019 to 2025
 Base year  2019
 Forecast period  2020–2025
 Forecast Unit (Value)  USD Billion
 Segments covered  Equipment Type, Component Type, End Users, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Johnson Controls International plc, LG Corporation, Daikin Industries, Ltd., Haier   Group Corporation, Lennox International Inc., Ingersoll Rand Inc., Panasonic   Corporation, Danfoss Group, Daikin Industries Ltd., Emerson electric Co.
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Equipment Type

o    Heating Equipment

  • Heat Pumps
  • Boilers
  • Furnaces
  • Unitary Heaters
  • Space Heaters
  • Others

o    Ventilation Equipment

  • Fans
  • Dehumidifiers
  • Humidifiers
  • Air Filters
  • Air Purifiers
  • Others

o    Air Conditioning Equipment

  • Chillers
  • Coolers
  • Air Conditioning Equipment
  • Cooling Towers
  • Others
  • By Component Type

o    Coils

o    Transducers

o    Actuators

o    Radiators

o    Condenser

o    Compressor

o    Other Component

  • by End Users

o    Residential

o    Industrial

o    Commercial

o    Government Institutions

o    Education

o    Healthcare

  • By Geography

o    North America

  • USA
  • Canada
  • Mexico

o    South America

  • Brazil
  • Argentina
  • Others

o    Europe

  • UK
  • Germany
  • France
  • Others

o    The Middle East and Africa

  • Saudi Arabia
  • UAE
  • Israel
  • Others

o    Asia Pacific

  • Japan
  • China
  • India
  • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of HVAC equipment market?
A1. HVAC Equipment Market was valued at US$116.515 billion in the year 2019.
 
Q2. What will be the HVAC equipment market size by 2025?
A2. The global HVAC equipment market is expected to reach a market size of US$162.123 billion by 2025.
 
Q3. What are the growth prospects for HVAC Equipment Market?
A3. The HVAC equipment market is expected to grow at a CAGR of 5.66% over the forecast period.
 
Q4. Which region holds the largest market share in the HVAC equipment market?
A4. The American region is a matured economy and is estimated to hold a major share of the HVAC equipment market.
 
Q5. How is the HVAC equipment market segmented?
A5. The HVAC equipment market has been segmented by equipment type, component type, end-users, and geography.
 

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